To Shareholders of Univentures Public Company Limited,
To the Shareholders of Univentures Public Company Limited, The Risk Management Committee of Univentures Public Company Limited (the “Company”) has been appointed by the Board of Directors. The Company is responsible for screening major risks including: Provide appropriate solutions. The task of setting Risk Management Policy Management Plan Business risk assessment of the company, Protection measures and follow-up.
During the accounting period from 1 January 2017 to 30 September 2017, the Risk Management Committee held three meetings to perform duties in accordance with the above risk management policy and reported the meeting results to the Audit Committee and the Board of Directors. The performance of duties can be summarized as follows:
Review the principles of Likelihood and Impact including the methods to calculate the Level of Risk of each risk factor to be in line with the Risk Appetite level and the changing circumstances.
Assess and Analyze various risk factors that might occur, including the tendency of potential impact on the organization covering the following issues: business risk, financial risk, operational risk and external risk. The risk can be categorized into four levels: high, fairly high, moderate and low.
Formulate risk management plan and risk control approaches in order to manage risk to be at the Risk Appetite level or reduce potential risk in the future.
Follow up and review the implementation according to the risk management plan under the Company’s risk management policy and framework to ensure that the result of risk management is in accordance with risk control approaches and the Company’s strategy. Prepared by the Risk Management Committee, the risk management report that is reviewed and revised by the Audit Committee at least once a quarter will submit to the Board of Directors.
Prepare self-evaluation forms of the Risk Management Committee both collectively and individually for the accounting period of nine months ending as of 30 September 2017 in order to improve the performance of the Risk Management Committee, together with following up and evaluating the performance of the Risk Management Committee in accordance with the goals approved by the Board of Directors.
The performance of the Risk Management Committee during the past year proved efficient and was in line with the good corporate governance practices, resulting in an ability to control risk that might affect the Company’s operations for the maximum benefits of the shareholders and all stakeholders.
(Mr. Worawat Srisa-an)